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Kingfisher group warns that MFI will not be the last

Kingfisher group, the owner of B&Q, has stepped forward to suggest that the demise of MFI will not be the last major casualty on the UK high street. This is a damning indictment of the current situation in the UK and has analysts rushing for their red pens and cutting back a number of profit forecasts. It has also introduced a new guessing game with many investors now trying to find the next major casualty in the sector.

While there is no suggestion that Kingfisher is in any way in trouble, the general feeling on the high street is that the situation will get substantially worse before it gets better and the recent reduction in VAT will have a minimal impact in the short-term. Many companies are now just hoping to get through Christmas without any further cash flow difficulties and then reassess the situation in the New Year, when many experts expect a number of high-profile administrations to be announced.

One possible beneficiary of the turmoil on high Street could be the online sector where more and more consumers are looking for competitive pricing, which has been one of the strong points of the Internet. Whether this will see consumers leave the high street in their droves remains to be seen, but bargains are in short supply and high demand.

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